Swedbank AB Has $98.96 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Swedbank AB lifted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 30.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 389,115 shares of the medical equipment provider's stock after buying an additional 90,000 shares during the period. Swedbank AB owned about 0.52% of Align Technology worth $98,960,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Align Technology in the first quarter valued at about $26,000. LRI Investments LLC bought a new stake in shares of Align Technology in the 1st quarter valued at approximately $29,000. Cullen Frost Bankers Inc. raised its holdings in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock worth $25,000 after buying an additional 94 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Align Technology during the 2nd quarter worth approximately $26,000. Finally, Innealta Capital LLC acquired a new stake in Align Technology in the 2nd quarter valued at $26,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALGN has been the subject of several recent analyst reports. Needham & Company LLC began coverage on Align Technology in a research note on Thursday, October 10th. They set a "hold" rating for the company. Robert W. Baird cut their price target on shares of Align Technology from $370.00 to $325.00 and set an "outperform" rating for the company in a report on Monday, July 22nd. Stifel Nicolaus decreased their price objective on shares of Align Technology from $350.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Evercore ISI dropped their price objective on shares of Align Technology from $280.00 to $270.00 and set an "outperform" rating for the company in a report on Tuesday, October 8th. Finally, StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $295.00.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares of the company's stock, valued at $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company's stock.

Align Technology Trading Down 1.4 %

Shares of ALGN traded down $3.10 on Wednesday, reaching $216.05. 1,482,037 shares of the company's stock were exchanged, compared to its average volume of 767,363. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The stock has a market capitalization of $16.26 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The business has a 50 day moving average price of $234.20 and a two-hundred day moving average price of $254.75.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The firm's quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Align Technology, Inc. will post 7.61 EPS for the current year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.